Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Tempus AI, Inc. (TEM)

/EIN News/ -- NEW YORK, June 16, 2025 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of all persons or entities who purchased or otherwise acquired Tempus AI, Inc. (“Tempus” or the “Company”) (NASDAQ: TEM) securities between August 6, 2024 and May 27, 2025, both dates inclusive (the “Class Period”).

The Complaint alleges that defendants failed to disclose: (i) Tempus inflated the value of contract agreements, many of which were with related parties, included non-binding opt-ins and/or were self-funded; (ii) the credibility and substance of the joint venture with SoftBank was at risk because it gave the appearance of “round-tripping” capital to create revenue for Tempus; (iii) Tempus-acquired Ambry had a business model based on aggressive and potentially unethical billing practices that risked scrutiny and unsustainability; (iv) AstraZeneca had reduced its financial commitments to Tempus through a questionable “pass-through payment” via a joint agreement between it, the Company and Pathos AI; and (v) the foregoing issues revealed weakness in core operations and revenue prospects.

The Complaint also alleges that on May 28, 2025, Spruce Point Capital Management, LLC issued a report on Tempus that raised numerous red flags over Tempus’ management, operations and financial reporting. The Spruce Point Report scrutinized Tempus on an array of issues, including: (i) defendant Eric Lefkofsky and his associates have a history cashing out of companies before public shareholders incur losses or lackluster returns; (ii) Tempus’ actual AI capabilities are overstated; (iii) board members and other executives have been associated with troubled companies that restated financial results; (iv) signs of aggressive accounting and financial reporting; (v) issues with the AstraZeneca and Pathos AI deal that merit scrutiny; and (vi) the Company’s recent financial guidance reveals weakness in core operations.

On this news, the price of Tempus common stock fell $12.67 per share, or 19.23%, from a closing price of $65.87 per share on May 27, 2025, to a closing price of $53.20 per share on May 28, 2025.

Investors who purchased or otherwise acquired shares of Tempus should contact the Firm prior to the August 11, 2025 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.